Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Itron (ITRI) downgraded to Neutral from Outperform at Baird with analyst Ben Kallo saying he is lowering his estimates and awaits clarity on both supply chains issues and competitive positioning. 2. Moderna (MRNA) downgraded to Perform from Outperform at Oppenheimer with analyst Hartaj Singh saying with a $170B market cap and the shares up 300% year-to-date, the stock is now “fairly pricing a tremendous amount of future recurring revenues and pipeline progress.” 3. Cloudflare (NET) downgraded to Neutral from Outperform at Baird with analyst Jonathan Ruykhaver citing “solely” valuation for the downgrade, saying the already commands a “significant premium to peers.” 4. Collegium (COLL) downgraded to Neutral from Overweight at Cantor Fitzgerald with analyst Brandon Folkes saying commentary on the earnings call makes him question how excited he can be the company’s new exclusive contract wins. 5. Dicerna (DRNA) downgraded to Hold from Buy at Truist with analyst Robyn Karnauskas saying the top-line results from the company’s PHYOX 2 trial were “mixed” and data was inconsistent with prior experience. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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